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April 5, 2021, 5:48 p.m. EDT

Best Fintech Stocks To To Buy In April 2021? 4 Names To Watch

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Apr 05, 2021 (StockMarket.com via COMTEX) -- Are These The Best Fintech Stocks to Watch This Month?

Fintech stocks are growing in popularity in the stock market today . But before we dive in, what exactly is fintech? It is a term used to describe new tech that seeks to improve and automate the delivery and use of financial services. Essentially, it is used to aid companies and consumers in managing their financial operations, processes, and lives by utilizing specialized software and algorithms. Basically, a combination of words between "financial" and "technology".

While traditional means of financial transactions such as banknotes are still prevalent globally, many other cashless transaction methods have emerged. For example, fintech giants such as Visa Inc ( NYSE: V ) and Mastercard ( NYSE: MA ) have adopted cryptocurrency transactions. Visa recently announced that it would allow the use of cryptocurrency (USD Coin) to settle transactions on its payment network. This move further strengthens Visa's "network of network" strategy. In detail, the strategy is an ambition to accept a wide variety of monetary sources for payments within its ecosystem.

Hence, with cryptocurrency gaining traction globally, fintech companies are not resting on their laurels. Now, with all these companies adapting to the trends of financial technology, are you convinced by the use of technology to improve financial services? If the answer is a firm yes, here are four of the best fintech stocks to watch right now.

Top Fintech Stocks To Watch In April

Square, Inc

Square is a mobile payment company that also offers a suite of business software. It also includes payment hardware products and small business services. Unlike most payment processors, Square is available to businesses of all sizes. Furthermore, it offers the most comprehensive free point-of-sale (POS) system on the market. Therefore, millions of businesses use Square as part of their day-to-day operations. Having traded sideways since the start of the year, it is easy to forget that SQ stock has quadrupled over the past year.

The company has attracted even more attention with the recent partnership with Miley Cyrus. The singer tweeted last week claiming there will be a giveaway of $1 million worth of stocks. Financially, the company is in a very healthy state. For the fiscal year ended December 31, 2020, Square's revenues increased by a whopping 101% from $4.71 billion to $9.5 billion.

It is worth noting that Square previously invested over $200 million in Bitcoin in the last year. This has led to a start of a new round of cryptocurrency adoption by mainstream players. With bitcoin nearing its all-time highs, SQ stock would also attract investors who believe in the rapid development of the crypto market. With such a strong performance over the past year, can SQ stock continue to thrive?

[Read More] 4 Top Software Stocks To Watch In April 2021

Paypal Holdings, Inc

Paypal is a company that has remained at the forefront of the digital payment revolution for more than 20 years. This is achieved by leveraging technology to make financial services and commerce more convenient, affordable, and secure. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money and offers choice and flexibility when sending payments, paying, or getting paid.

In the financials for the fiscal year ended December 31, 2020, revenue came in 21% higher year-over-year to $21.45 billion. Also, net income had an increase of 71% to $4.2 billion. The company also announced that it now allows U.S. consumers to use their cryptocurrency holdings to pay online merchants globally.

Users who hold bitcoin and other top altcoins in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases. This is a significant move that would boost the use of digital assets in everyday commerce. Given the activity by the company to keep up with global trends, would you consider buying PYPL stock?

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